JCT allots 2185899 Equity Shares on Conversion of FCCBs

JCT Ltd has announced that the Company has received a Conversion Notice from its Principal, Paying, Conversion and Transfer Agent the Bank of New York, London Branch, for conversion of 58 FCCBs of US$ 10,000 aggregating to US$ 580,000 into Equity Shares. In terms of the Offering Circular dated March 31, 2006, the Company, on January 15, 2010, has issued and allotted 21,85,899 equity shares of the face value of Rs. 2.50 each for a cash at a premium of Rs. 9.34 per share consequent upon conversion of above referred FCCBs. By virtue of conversion of 58 FCCBs referred above, the number of FCCBs and amount outstanding stands at 2542 and US$ 25.42 Million respectively.

Further upon conversion of FCCBs as mentioned above into equity shares, the paid-up equity share capital of the Company has increased from 35,70,69,192 equity shares of the face value of Rs. 2.50 each to 35,92,55,091 equity shares of Rs. 2.50 each.

The Stock closed the day at Rs.4.73, down by Rs.0.11 or 2.27%. The stock hit an intraday high of Rs.5.03 and low of Rs.4.72.

The total traded quantity was 330938 compared to 2 week average of 1168219.

Source : Equity Bulls

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